Frontier Digital Ventures (ASX:FDV) reports record revenue following the release of its preliminary results for the 12 months ended 31 December 2019.
Full year portfolio revenue is up 75 per cent to $72.5 million.
4 companies recorded positive EBITDA in FY19 (Zameen, Infocasas, iMyanmar and AutoDeal) while 2 additional companies recorded positive EBITDA in 4Q 2019 (Encuentra24 and Moteur). The company says portfolio-wide profitability is approaching in 2020.
CEO, Shaun Di Gregorio says "FDV is well positioned with significant funding flexibility and a portfolio which continues to perform strongly".
Shares in Frontier Digital Ventures (ASX:FDV) are trading 1.06 per cent higher at $0.95.